111 Montgomery Street
111 Montgomery Street, Brooklyn, NY 11225
BBL 3011907502 · BIN 3427012
- Year built
- 2018
- Type
- Condominium
- Units
- 163
- Floors
- 12
- Landmark
- No
- Amenities
- Attended lobby coverage supplemented by a virtual doorman service contract, resident manager, fitness center, co-working lounge, children's playroom, media room, pet spa, roof terrace, community garden, private storage, bicycle storage for 81, and a 71-car garage held by the sponsor as a separate unit. A complimentary Botanic Garden membership was marketed at launch
- Flip tax
- Not documented in the records available to us
Every recorded sale at this building, 2020–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $1,146
- Listing discount
- 2.2%
- Recorded sales
- 180
- On record
- 2020–2026
111 Montgomery is the largest condominium in Crown Heights and the one that trades most often. At 163 apartments in a submarket built of brownstones, small conversions and twenty-unit new-construction buildings, it is the only address here with a real internal comparable set — line to line, floor to floor, year over year. Almost every other Crown Heights condominium is priced off a handful of dissimilar trades; this one is priced off itself.
The location carried the project. One block from the Brooklyn Botanic Garden, two from Prospect Park, a short walk from four subway lines and the shuttle at Franklin Avenue — strong enough to draw institutional capital, with CIM Group taking a stake alongside LIVWRK during construction. The architecture is competent rather than ambitious: a dark two-story base under a lighter shaft, setbacks at the eighth and tenth floors, and plan indentations that produce balconies at the ends and center.
The three facts that should actually govern a purchase are financial, and all three come out of the audited statements rather than the marketing.
The operating history is shorter than the building's age suggests. The sponsor waived common charges from the first closing through March 31, 2022; owner-paid charges began April 1, 2022. There is no owner-funded expense record for the first fifteen months.
Reserves are thin against a documented forecast. At June 30, 2024 the condominium held about $120,000 in reserves and $212,000 in working capital — roughly $341,000 of cash — against an August 2022 engineering reserve study estimating $5.36 million of eventual replacement cost, concentrated in mechanical systems and the envelope. Nothing about that is alarming in a four-year-old building where those components are deep inside their useful lives. The funding rate is what to watch: reserve contributions arrive one month's common charges at a time, at closings, and the building is now essentially sold out — 161 of 163 units conveyed as of mid-2024.
The condominium still owes itself a superintendent's apartment. Under the offering plan it must buy unit 2J from the sponsor at a projected $1,040,000. Buyers funded 20 percent through capital contributions collected at closing — $204,631 was sitting with a third-party escrow agent at June 30, 2024 — and the remaining roughly $832,000 is to come from a sponsor purchase-money note secured by that unit, at up to 6 percent with a balloon at five years. As of the auditors' report in November 2024, title had not transferred. When it does, the condominium takes on that debt plus the unit's taxes, utilities and debt service, charged to residential owners.
Architecture and unit composition
The program runs from studios through three-bedrooms, averaging roughly 746 square feet of residential area — compact, in line with 2010s Brooklyn new construction, and smaller than the borough's loft-conversion stock. Finishes at launch were mid-market-plus for the submarket: white oak floors, Bosch appliances, in-unit laundry throughout. What separates one apartment from another is floor level relative to the eighth- and tenth-floor setbacks, exposure, and whether the line carries a balcony. Because the balconies sit at the ends and center of the plan, balconied lines are a minority and command a premium — and several are under twenty square feet, so measure rather than assume. Garage parking is leased, not deeded, and the garage is a separate unit still owned by the sponsor.
Building operations
The building runs with a resident manager and contracted staff, supplemented by a virtual-doorman service agreement entered in 2021 on a five-year initial term. Marketing describes a 24-hour doorman; the audited statements describe a virtual doorman contract alongside contracted labor. Both can be true at different hours — ask the managing agent to state the actual staffing schedule in writing.
The year ended June 30, 2024 produced about $1.63 million of revenue against $1.56 million of expense, a modest surplus, no mortgage and no assessment. Contracted labor at roughly $652,000 was the largest line, then utilities at roughly $299,000 and insurance at roughly $145,000. One balance-sheet item deserves attention: Due from Sponsor stood at $286,786, the bulk of it unpaid common charges on the sponsor-owned garage unit running from April 2022 forward at about $25,000 a year. Ask where that receivable stands today and what the board has done to collect it.
At more than 25,000 square feet the building sits inside the city's benchmarking and emissions regimes. It is new construction to a 2015-era code and should be well positioned; get the Local Law 97 position in writing rather than assuming it.
Policy framework
From the current purchase application package and house rules on file. Confirm against the offering plan and current rules.
Purchase review: Screened by the managing agent, reviewed by an admissions committee, with a board interview contemplated — heavier than a typical condominium right of first refusal.
Application costs: $750 non-refundable processing fee, $125 screening fee per person 18 or over, an optional $500 expedite fee, and a refundable move-in deposit. The package is internally inconsistent on the deposit — the fee page says $500, the house rules say $5,000.
Leasing: No lease shorter than twelve months; fines escalate $500 / $2,500 / $3,750.
Moves: Weekdays only unless approved; movers may not begin after 3:00 p.m. and must finish by 5:30 p.m. Approved Saturday moves carry a $250 fee.
Flip tax, financing ceiling and minimum down payment: Not documented. Request the offering plan and current house rules.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $8,191/yr
- Per unit / month range
- $0 – $4
Source: NYC LL84 benchmarking and PLUTO · The Roebling Research Library. City record last verified September 2026.
See full Local Law 97 analysis — emissions history, scenarios, methodology →Recent sales
Benchmark 111 Montgomery on dollars per square foot against Brooklyn condominium new construction of the same vintage — and against itself, adjusting for floor, exposure and balcony. Two distortions matter. Apartments that closed before April 2022 closed into a building with no owner-paid common charges, so carrying-cost comparisons from that period understate true cost. And nothing in the financial statements, by-laws or purchase package describes a 421-a or other tax benefit, with only a nominal exemption recorded against the condominium's billing lot: underwrite unabated taxes and pull the specific unit's current bill rather than a figure carried forward from an older listing. Unit-level transaction history is maintained in The Roebling Research Library and shared with clients during diligence.
Recent closings at this building, curated by The Roebling Team research desk. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| May 29, 2026 | 9G | 1 BR · 1 BA · 687 sf | $838,000 | $1,220/sf | -1.3% |
| Mar 30, 2026 | 8M | 1 BR · 1 BA · 709 sf | $800,000 | $1,128/sf | +0.0% |
| Feb 27, 2026 | 5B | 1 BR · 1 BA · 718 sf | $690,000 | $961/sf | -5.5% |
| Feb 24, 2026 | 6K | 1 BR · 1 BA · 675 sf | $799,000 | $1,184/sf | +0.0% |
| Jan 23, 2026 | 2J | 950 sf | $1,061,630 | $1,118/sf | off-mkt |
| Nov 14, 2025 | 7M | 1 BR · 1 BA · 709 sf | $800,000 | $1,128/sf | -2.4% |
| Sep 10, 2025 | 1C | 2 BR · 2 BA · 962 sf | $1,240,000 | $1,289/sf | -0.7% |
| Sep 8, 2025 | 1N | 1 BR · 1 BA · 674 sf | $845,000 | $1,254/sf | -3.8% |
Market read. Most recent trades (2026) cleared a median $1,146/sf across 5 sales. Median listing discount 2.2% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 3-01190-7502) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage from recorded condo declarations and offering plans.
Comparable buildings
If you're considering 111 Montgomery, also evaluate:
- 550 Vanderbilt Avenue — the Pacific Park condominium in Prospect Heights; the larger, higher-priced version of the same institutional logic
- 856 Washington Avenue — a 26-unit Prospect Heights condominium near the Brooklyn Museum; the boutique alternative at the same end of the parkway
- 255 Eastern Parkway (The Woodrow Wilson) — the prewar condominium a few blocks north; same neighborhood, opposite product
- 135 Eastern Parkway (Turner Towers) — the parkway's prewar cooperative benchmark; the cross-tenure test of space against amenity
- 315 Gates Avenue — Bedford-Stuyvesant condominium with garage and roof terrace; comparable amenity package at a fraction of the unit count
- 429 Kent Avenue (The Oosten) and 423 Atlantic Avenue — Brooklyn new-development condominiums of the same decade at similar scale
How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent.
Considering a move at 111 Montgomery Street?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at 111 Montgomery Street would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.